This course provides a graduate-level treatment of research on international financial integration, with an emphasis on empirical works. The course reviews review recent developments in macroeconomics, with emphasis on open economy questions, in order to help students identify research topics. It documents the rising extent of financial linkages and the associated 'valuation effects' of asset prices on countries' wealth. It then considers research on the global financial cycle and whether the exchange rate regime can help absorb capital flows. The course then considers the development of international banking activity and its impact on policy transmission. It considers situations in which borrowing can be socially excessive, and concludes with a review of the use and effectiveness of international reserves, capital controls, and macroprudential policies. The first part of the course consists of lectures. The second part consists of presentations of papers from the reading list (with the option to propose a paper not on the list that you would be particularly interested in presenting).